PPP Loan Data — Lolibay Groups, Baltimore, MD
Lolibay Groups is a sole proprietorship located at 414 Light St Unit 1510 in Baltimore, Maryland that received a Coronavirus-related PPP loan from the SBA of $24,850.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Lolibay Groups in Baltimore, MD received a Paycheck Protection Loan of $24,850 through Bank of America, National Association, which was approved in June, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Lolibay Groups' 2019 payroll expenses are estimated to be at least $119,280.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $14,910 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lolibay Groups reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,850
Business Information - Lolibay Groups in Baltimore, MD
414 Light St Unit 1510
Baltimore, MD 21202
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Baltimore
In the Baltimore area, 29 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $46,036 (compared to this company's $24,850).
Similar Nearby Businesses Who Received PPP Funding:
Charlesmead Advisors LLC
Charlesstreet Properties LLC
My Thanh Pham
Free Baltimore, LLC
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 63% lower than Lolibay Groups' reported 8 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $24,850.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!